Common use of Termination for Developer Default Clause in Contracts

Termination for Developer Default. 16.1.1. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by BESCOM or due to Force Majeure. The defaults referred to herein shall include the following: a) The Developer has failed to achieve the COD beyond twenty two (22) months from the date of getting concurrence from KERC on the PPA for Power Project for any reason whatsoever; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; e) The Developer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by the Developer within thirty (30) days of receipt of first notice in this regard given by BESCOM. f) The Developer is in material breach of any of its obligations under this Agreement and the same has not been remedied for more than Thirty

Termination for Developer Default. 16.1.1. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by BESCOM ESCOM or due to Force Majeure. The defaults referred to herein shall include the following: a) The Developer has failed to achieve the COD beyond twenty two (22) months from the date of getting concurrence from KERC on the PPA for Power Project for any reason whatsoever; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; e) The Developer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by the Developer within thirty (30) days of receipt of first notice in this regard given by BESCOMESCOM. f) The Developer is in material breach of any of its obligations under this Agreement and the same has not been remedied for more than Thirty

Termination for Developer Default. 16.1.1. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by BESCOM the Authority or due to Force Majeure. The defaults referred to herein shall include the following: a) A. The Developer has failed to achieve the COD beyond twenty two three (223) months from the date of getting concurrence from KERC on the PPA for Power Project Scheduled COD, for any reason whatsoever; b) B. The condition relating to equity lock-in period specified in Clause 5.2 6.4 of this Agreement is not complied with; c) C. the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) 5.8 and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) D. The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; e) E. The Developer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by the Developer within thirty 30 (30thirty) days of receipt of first notice in this regard given by BESCOMthe Authority. f) F. The Developer is in material breach of any of its obligations under this Agreement and the same has not been remedied for more than Thirty60 days;

Termination for Developer Default. 16.1.1. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by BESCOM ESCOM or due to Force Majeure. The defaults developer default referred to herein shall include the following: a) The Developer has failed to achieve commence supply of power to ESCOM up to the contracted capacity by the end of period specified in Article 5 or failure to continue supply of contracted capacity to ESCOM after COD beyond twenty two (22throughout the term of this Agreement; or If i) months from the date developer assigns, mortgages or charges or purports to assign, mortgage or charge any of getting concurrence from KERC on its assets or rights related to the PPA for Power Project for in contravention of the provisions of this agreement; or ii) the developer transfers or novates any reason whatsoeverof its rights and/ or obligations under this agreement, in a manner contrary to the provisions of this agreement; except were such transfer • is in pursuance of a Law; and does not affect the ability of the transferee to perform, and such transferee has the financial capability to perform, its obligations under this agreement or • is to a transferee who assumes such obligations under this agreement and the agreement remains effective with respect to the transferee; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed encased and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; e) The Developer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by the Developer within thirty (30) days of receipt of first notice in this regard given by BESCOM. f) The Developer is in material breach of any of its obligations under this Agreement and the same has not been remedied for more than Thirty